BestJobs bonds worth EUR 3.3mn have started trading on the Bucharest Stock Exchange

7/28/2021

  • BestJobs, one of the most important online recruitment platforms in Romania, debuts on the Bucharest Stock Exchange with its first corporate bonds.
  • The company carried out a private placement in May 2021, attracting over EUR 3.3mn from the capital market investors.
  • The money raised on the capital market will be directed towards attracting team professionals, promoting, and developing the platform, technological solutions developed in-house, as well as for investments in other companies in the field of online services.

 

BestJobs, one of the most important online recruitment platforms in Romania, debuted today, July 28th, with its first bonds on Bucharest Stock Exchange (BVB). The EUR 3.3mn bonds are traded on the stock exchange's Multilateral Trading System under the ticker JOBS26E. The money raised from the capital market investors will support the company's development, by attracting team professionals, promoting, and developing the platform and technological solutions developed in-house. The funds can also be used for investments in companies in the field of online services (fintech, marketplace).

‘Capital market resources will go once more directly into the local economy, by developing BestJobs business. It will go also, indirectly, into the lives of millions of BestJobs users, employers, employees, or future employees, that will benefit from investments made with funds attracted from investors. Good luck to BestJobs team!’, said Radu Hanga, Bucharest Stock Exchange President.

‘At BestJobs we are constantly developing new technologies, smart recruitment solutions for improving professional development. We continue to build even now, faster than ever. We are grateful for the trust investor gave to BestJobs management team’, said Calin Fusu, BestJobs CEO.

The listing of the bonds follows a private placement of bonds carried out between May 6th and 17th, 2021, through which the company issued 6,742 corporate bonds denominated in EUR, with EUR 500 value per bond. The bonds have an interest rate of 5.8% p.a. and will reach maturity on May 20th, 2026. 106 investors subscribed during the private placement, out of which 14 qualified investors and 92 retail investors. The company thus attracted EUR 3,371,000 from the capital market investors. The private placement and listing of the bonds were done with the support of TradeVille.

‘Starting with July 28th, investors on Bucharest Stock Exchange have a new fixed income investment option: BestJobs bonds. It is a new step in the direction of building an ecosystem that would allow a better diversification of the portfolios created on the Romanian stock exchange, not only at the level of issuers but also at the level of asset classes. We are glad to see, thus, that the objective of financing the national economy is more and more combined with that of a portfolio of healthy savings’, said Ovidiu-George Dumitrescu, CFA, TradeVille Deputy CEO.

With over 20 years of experience, detached in 2010 as a stand-alone company from Neogen SA, the BestJobs platform integrates state-of-the-art digital technologies, including an online marketplace with full recruitment agency services. By 2023, the company aims to reach 6 million CVs on the website, after already registering 4.6 million CVs in the first months of this year. In 2020, in a pandemic context, the number of job applications published on the BestJobs platform increased by 29.3% compared to 2019 (5,877,566 applications in 2020 vs. 4,544,130 in 2019).

The company's revenues are obtained from the promotion of jobs on the BestJobs platform. The company reported, in 2020, a turnover of RON 21.3mn, decreasing by 30.2% compared to 2019, and other operating income was RON 140.896. The company's net profit in 2020 was RON 2.1mn, down from 2019 when the company reported a net profit of RON 7.8mn. In the first quarter of 2021, the company recorded a turnover of RON 6.68mn and a net profit of RON 1.7mn. For the end of the current year, the company forecasts a turnover of RON 39.2mn and a net profit of RON 8.9mn. At the end of last year, the company had 33 employees, down from 2019 when it had 50 employees.

The majority shareholder of BestJobs is Neogen S.A. with 99.9988% of the shares. Neogen S.A. is owned by Calin Fusu, with 67%.